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Stocks Slammed -- Down 300+ Points

MSNBC story:

Wall Street fell sharply Thursday, with the Dow Jones industrial average down nearly 300 points, extending its weeks-long streak of volatility after disappointing home sales figures added to investors' increasing uneasiness about the mortgage and corporate lending markets.

Investors who had been able to shrug off concerns about subprime mortgage lending problems and a more difficult environment for corporate borrowing were clearly worried once again.

The economy is NOT fundamentally sound. A few people are getting rich, but at the expense of destablizing the entire system by making money roll uphill. Until the middle class begins seeing real gains, this sort of "volatility," which really means that those who manipulate the market drive it up temporarily and then cash in, leading to plummeting prices -- will continue.


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Rating: 3/5 (6 votes cast)


Comments (6)

Lee Ward:

Oh, I think the economy is on pretty solid ground, not everyone is doing well personally, but the economy is chugging along ok.

The fallout in home prices has been predicted for quite a while, and with the stock market at a peak lots of people were looking for a reason to sell, and found it.

The mortgage woes does make this particular asshat look like a total jackass however - which doesn't surprise me in the least.

I hate to see anyone who has invested their lifesavings or retirement funds in stocks or mutual funds take a financial beating. I wish them the best for a complete recovery of their finances.

I'll be back to writing very soon here at Wizbang Blue as I finish the funeral preparations for my father who died at about 1pm on Tuesday at home while I caring for him. This has really spent me emotionally and is very tough on my mother who is not very well either, as I have to look after her as well.

Last night, when I went to Safeway for a few groceries, two guys attempted to commit some crime at the store at the cash register with a very nice young Russian immmigrant female cashier and they ended up damaging my dad's car with their radical getaway car stunt from the parking lot. I was hoping to keep my dad's car in nice condition as a keepsake. But you sure can't count on everything, just like those disappointed in their stock performance today.

The very best to you Paul Hamiliton, Steve, "larkin" and certainly my good friend, Lee Ward. I'll be back to writing here very soon as I finish up the funeral preparations for Friday and ask your forgiveness for some lapses of a few days between my posts because of the bad situation here at home with my father's death. Have a great day.

Lee Ward:

Paul - so sorry about your father. I know how hard it's been on you the last several months with both of your parents ill. Our thoughts are with you, and don't forget to take care of yourself as well. The death of parent is always tough, even when it's expected.

Paul Hamilton:

My sympathies on your loss, Paul.

andrew:

The Leftstream media/doublethink mindset is very fascinating to me. If the stock market does well when a Republican is President it's either 1) not news, 2) it is news but will be explained as nothing more than a few rich people benefitting, or as a sign that the market has peaked and will be coming down shortly. Now if the stock market goes down ("down" mind you is a relative term of course because the markets are up significantly from where they were a year ago, and are only coming down from all-time highs) when a Republican is President it is worthy of much attention and is a sign that the economy is not well and people are hurting, blah blah blah. So if the markets go up and it means nothing to the middle class because after all they have little to no money in the stock market, why does it matter to them when it goes down?

kim:

Come for he,
Soon for thee.

Be glad the order is traditional.
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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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